Weekend Roundup: First Publicly Traded US Bitcoin Derivatives Exchange Set to Launch, New BTMs in the US, UK
New Bitcoin ATMs in the USA and the UK, youth entrepreneurial program looking to empower under-served populations with Bitcoin, MGT Capital Investments to merge with Tera Group and launch the first publicly traded American Bitcoin derivatives exchange, and more top news to wrap up the week.
MGT Capital Investments to Merge with Tera Group MGT Capital Investments announced on February 26, it has enter into a Letter of Intent with Tera Group, Inc., the owner of TeraExchange, LLC, a Swap Execution Facility regulated by the US Commodity Futures Trading Commission (CFTC).
Both companies are looking to come to a definitive agreement by March 16, 2016, that would lead the first regulated Bitcoin derivatives platform to go public on the New York Stock Exchange (NYSE) MKT.
H. Robert Holmes, Chairman of MGT’s board of directors, said in a press release:
“The proposed merger with Tera gives immediate and future value to our stockholders, while creating a robust platform for the growth of the industry’s first publicly listed bitcoin derivatives exchange.
The Bitcoin industry attracted over US$400 million of investment capital from some of the world’s most prominent investors over the past 12 months; we see our move today as further progress in the broader adoption of the industry.”
Youth Business USA Looking to Empower Under-Served Entrepreneurs with Bitcoin Youth Business USA, a non-profit organization aiming to “help aspire young people between 18 and 29 years old make their business idea a reality,” is looking to implement Bitcoin into its model.
The organization has recently begun discussions with its young entrepreneurs to educate them about the benefits of Bitcoin for micro-businesses.
Founder, president and CEO Bo Ghirardelli, told CoinTelegraph:
“I believe in Bitcoin’s ability to empower low-income young Americans, as currently our nonprofit’s core demographic is especially taken advantage of by the current banking system.”
This post was published at Coin Telegraph on 2015-03-01.